ATLANTA—Even as rumors swirl that Blackstone is in talks for a $2.5 billion sale of Boston office properties, the firm has just snapped up a portfolio of 15 select service hotels along the country's east and west coasts. Financial terms of the deal were not disclosed.

JLL managing directors Mark Fair and Al Calhoun, along with senior vice president Samantha Fisher represented the seller, OTO Development. The portfolio includes 1,856 keys across 15 hotels located in Alabama, California, Connecticut, Florida, Pennsylvania, and metropolitan Washington D.C.

“This portfolio is recognized as one of the highest quality select service portfolios on the market and received a great deal of interest from numerous investors,” says Fair. “The assets were aggressively pursued, showcasing the appetite investors have for select service portfolios with scale for institutional capital. The portfolio features diverse geographic locations, including seven properties in high barrier to entry markets in Southern California.”